Myers Park Market Report

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Homes Sold Homes for Sale and Other News

Myers Park has been a favorite of Charlotte’s elites for nearly 100 years. Wide, tree lined boulevards are the norm. The leaves are almost back, (Pic is a coming soon portrait!) and the real estate market is heating up. For the Myers Park area, I’m going to use the zip code 28207. Of course Myers Park extends into 28209 (along Selwyn and Princeton, among other areas) Lets look at those two zips versus the city of Charlotte. The average home price in the Charlotte Region is up 6% year over year. Obviously, Myers Park home prices have increased more.

How about home price per square foot?

So much of our data is about average home prices, but I feel home price per square foot may be a better measure. It also expresses home affordability and value better.

The Charlotte Region? UP 7.2% to an average of $119/sf

Myers Park- 28207 UP 10.3% to an averag of $279/sf

Myers Park- 28209 UP (only) 3%

So the home prices, and home price per square foot are pretty similar in Charlotte and Myers Park zip 28207. We see the weakness of the home price model in zip code 28209. Prices went way up (19%) in 28209, but relative p/sf home prices did not. Why the divergence? This means buyers are buying more expensive homes. Also going on is that land prices are way up in 28209, driving even small tear down prices up. These two characteristics of 28209 account for the high increase in average price, but slower gain in price per SF.

Other Myers Park News

The highest priced home in Myers Park is offerred at $3,950,000, at 600 Hermitage Road. The least expensive $549,900, at 3033 Park Rd (on a busy street.) If your home is over $2M, and there are 21 homes on the market for over $2,000,000, the median days on market is 56 days, however there are 5 homes on the market over 200 days, two are over 500 days. Whatmake some not sell? Easy, unrenovated homes in this price range don’t sell!

There are two new homes on the market, and both are over $2M, both over 5000 SF. Call me direct if you are interested here, I understand their motivations, and have had good success with them .

Terry McDonald

I am the owner and operator of CharlotteCommunitiesOnline.com and was inspired to create this website when I moved my young family of 6 down to Charlotte from the northeast, now over 20 years ago. Charlotte quickly became home to us and I wanted to create a website that would help individuals and families considering a move to Charlotte. I'm also the owner of The McDonald Group at eXp Realty (my day job) and have helped hundreds of folks relocate to Charlotte over the years.

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